“Growing demand for cashless model type self-checkout systems is fueling the growth of the self-checkout systems market”
The self-checkout systems market is expected to grow at a CAGR of 10.7% between 2016 and 2022 to reach USD 4.58 billion by 2022 from USD 2.24 billion in 2015. Increasing demand for cashless model type self-checkout systems is one of the major factors fueling the growth of this market. The advantages of cashless model type systems over cash model type systems, such as lower price and lesser complexity, have led to increase in the adoption rate of these systems, especially in convenience stores, specialty stores, and other small retail stores. The reluctance of customers to use self-checkout systems and the increased risk of loss of inventory for retailers are the major factors limiting the growth of the self-checkout systems market.
“Supermarkets, and hypermarkets and department stores are the major end users of self-checkout systems”
The supermarkets held the largest share of the self-checkout systems market in 2015 followed by hypermarkets and department stores. Supermarkets, hypermarkets, and department stores are the large store formats due to which their requirement for checkout lanes is usually more than other formats of the retail stores, which leads to a high demand for the self-checkout systems from these stores.
“The self-checkout systems market growth expected to be driven by APAC countries during the forecast period”
The self-checkout systems market in APAC is expected to grow at the highest rate during the forecast period. China, Japan, and Australia are some of the major countries driving the growth of the self-checkout systems market in APAC. A number of retail companies situated in APAC such as Rainbow Department Store Co., Ltd. (China), AEON Co., Ltd. (Japan), Seiyu GK (Japan), and Coles Supermarkets Australia Pty Ltd. (Australia) are using self-checkout systems in their retail stores.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the self-checkout systems market.
The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 = 35 %, Tier 2 = 45%, and Tier 3 = 20%
- By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
- By Region: North America = 45%, Europe = 20%, APAC = 30%, and RoW = 5%
The report also profiles the key players in the self-checkout systems market and analyzes their market ranking. The players profiled in this report are NCR Corporation (U.S.), Toshiba TEC Corporation (Japan), Fujitsu Limited (Japan), Diebold Nixdorf, Inc. (U.S.), ECR Software (ECRS) Corporation (U.S.), Pan-Oston Co. (U.S.), ITAB Scanflow AB (Sweden), IER (France), Computer Hardware Design, Ltd. (Latvia), and PCMS Group plc (U.K.).
This research report categorizes the self-checkout systems market on the basis of offering, mounting type, model type, end user, and geography. The report also provides the Porter’s five forces analysis, along with a description of each of its forces and their respective impact on the self-checkout systems market; description of major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons To Buy the Report
The report will help leaders/new entrants in this market in the following ways:
- This report segments the self-checkout systems market comprehensively and provides the closest market size estimation for subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the market.
- This report helps stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section describes competitor ecosystem and various strategies implemented by the companies such as new product launches and developments, partnerships, and mergers and acquisitions.